The interval of time immediately before a project is due, when it becomes apparent that the schedule has slipped and everyone is going to have to work like dogs to try to complete the project in time. Crunch time usually occurs during the period between the next-to-last scheduled milestone (prior to which everyone was able to delude themselves tht the schedule had NOT slipped) and the final deadline for delivery. During crunch time, workers are in crunch mode. Prevalent in the software industry, but used elsewhere as well.

"We've got three weeks left to complete six weeks worth of work. Looks like we'll be living on take-out for a while."

A time devoted to the action of taking A Crunch. Crunch Time can happen at anytime, in anyplace, to anyone. The length of a Crunch Time is affected my many things. Your age, your sex, barometric pressure, the earths pitch relative to the sun's axis, and what you ate last night for dinner all play a part on when Crunch Time will ensue.

Justin: Nick, you've been in there a while. You okay man?

Nick: I knew it was time...

Justin: Time for what?

Nick: Crunch time...

Justin: Seriously Nick, stop coming over to my house after you eat your Dad's home cooking.